💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Amgen, Actelion CEOs met, no offer made-Bloomberg

Published 12/12/2010, 10:45 PM
Updated 12/12/2010, 10:48 PM

NEW YORK, Dec 12 (Reuters) - Amgen Inc's chief executive met with the top executive of Swiss biotech firm Actelion Ltd to discuss his interest in Actelion, but made no offer for the company, Bloomberg reported on Sunday, citing three people with knowledge of the situation.

Amgen CEO Kevin Sharer and Actelion CEO Jean-Paul Clozel met last week, according to the Bloomberg report.

One source told Bloomberg that Sharer was looking to gauge Clozel's interest in a deal. Another person said that Clozel would like to keep the firm independent.

Amgen, the world's largest biotechnology company, has said it is eyeing acquisition opportunities overseas as it looks to spend billions of dollars in offshore cash that would otherwise be subject to heavy taxation were it to be repatriated. [ID:nN24272838]

In recent weeks Actelion, which specializes in treatments for pulmonary hypertension, has repeatedly come up in market rumors as a potential takeover target for Amgen, with analysts speculating the U.S. company could pay $9.8 billion, or $75 per share, for the Swiss biotech.

Amgen and Actelion could not be reached for comment. (Reporting by Michael Erman; Editing by Lincoln Feast)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.